Thursday December 27, 2012

Tim Cook saw his pay fall 99% in 2012. According to Apple, it is all part of the plan and has nothing to do with his performance as CEO, the maps issue or the massive stock slide over the last few months.

A proxy statement Apple filed today with the Securities and Exchange Commission revealed Cook's base salary as $1.3 million with non-cash compensation making up the rest. In contrast, Cook was given $378 million in overall compensation last year and $59 million the previous year. But the lower total compensation is all part of a plan.